Arcus Biosciences (NYSE:RCUS) Stock Price Down 4.5% – Here’s Why

Arcus Biosciences, Inc. (NYSE:RCUS) traded down 4.5% on Wednesday . The company traded as low as $13.53 and last traded at $13.50. 182,939 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 526,875 shares. The stock had previously closed at $14.14.

Analysts Set New Price Targets

Several research analysts recently commented on RCUS shares. Barclays boosted their target price on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. HC Wainwright restated a “neutral” rating and issued a $20.00 price target on shares of Arcus Biosciences in a report on Wednesday, November 6th. Wells Fargo & Company started coverage on Arcus Biosciences in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $34.00.

Arcus Biosciences Stock Down 3.3 %

The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The firm’s 50 day simple moving average is $15.46 and its 200-day simple moving average is $15.93. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -4.35 and a beta of 0.87.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, November 6th. The company reported ($1.00) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.06. The business had revenue of $48.00 million during the quarter, compared to the consensus estimate of $38.95 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. Arcus Biosciences’s revenue was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.94) EPS. Equities analysts expect that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total transaction of $53,910.00. Following the sale, the chief financial officer now directly owns 60,138 shares of the company’s stock, valued at $902,070. The trade was a 5.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors have recently modified their holdings of RCUS. FMR LLC raised its holdings in shares of Arcus Biosciences by 6.9% in the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock valued at $68,309,000 after purchasing an additional 286,766 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Arcus Biosciences by 32.9% during the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock worth $37,263,000 after buying an additional 603,222 shares during the last quarter. Parkman Healthcare Partners LLC increased its holdings in Arcus Biosciences by 146.9% during the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock worth $15,684,000 after buying an additional 610,219 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Arcus Biosciences by 25.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock worth $14,236,000 after buying an additional 186,750 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Arcus Biosciences by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock worth $8,669,000 after buying an additional 59,536 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.